I realized how much of a blessing it is that God provided me with means to diversify my income. He gave me the talent to host and the skills to write that allows me to really earn more than the usual. Having back up income streams gave me financial peace.

Learning how to effectively diversify your income will give you endless possibilities in life. So today I decided to reveal more proven ways you can diversify your income.

Love Your Day Job

Love and have fun in your day job. Remember it is the first source of income you have. Kung magpapabaya ka sa trabaho then you are just creating a big hole in your financial life. I created blog posts that about work and career that might give you some inspiration and additional inputs. See below posts:

My point is, start your diversification by having a day job (if you are a tambay) and committing to your day job (if you are already hired). It may be tiring sometimes but still… your income can pay the bills and feed your family.

Offer Your Service

The first income stream that I successfully created is event hosting. I offered my service in hosting special occasions like weddings, birthdays, debuts and company events. Assess whether you have a skill or a talent that you can offer to people. Even hobbies can sometimes give you additional money.

If you are good with musical instrument like guitar or violin you can offer your service for weddings and other events.

If you are good in writing then you can simply apply for freelance content writing jobs online.

If you are good in a particular subject then offer your service as a tutor.

If you are good in writing and you have this passion in sharing a part of your life to the virtual community then starting a blog/website can be a very good way to diversify your income. You will start earning through ads, affiliate links and sponsored reviews. Not to mention the wider network your will have. You can also start a niche website that focus on just a particular item or category that people will visit.

I know a friend who earned really well through buy and sell. She buys gadgets and sells them for a little higher. She will get 300-500 pesos for each gadget she sells. You can also do direct sales like Avon and Natasha for a commission. It is something you can do during lunch break and you have your officemates as your strong prospects.

Invest Your Money

Once you have at least 5,000pesos you can now start investing your money. You can invest directly in stock market or open a mutual fund account just like what I did. Mutual Fund is a great example of diversification for the money you invested are being used to purchase multiple shares from different companies and fields.

The biggest dream of everyone will most probably be earning Passive Income. Passive Income is a type of incomewherein the money works for you instead of you working for the money. You can do this by rental activity like an apartment or room for rent business, dividends through your investments, publishing royalties through ebooks and higher interest rates from stock investments. Earning passive income is a total hard work so make sure that you strive hard to earn one.

Be better in your finances. Save Now, Invest Now and walk your way to success.Sign up in myEmail Listand receive templates to get you started in your Financial Wealth. Follow me onFacebookandTwitterfor better updates. Godbless

Izza of SavingsPinay promotes financial literacy for the young and young at heart by providing insights and tips on budgeting, saving, investing and online entrepreneurship. Aside from this blog she also writes at www.izzaglinofull.com, a beauty and lifestyle blog for frugal Pinays and manages, www.izzagevents.com, a wedding and event business since 2011. For inquiries, topic suggestions or future collaborations email her atizza@savingspinay.ph

ABOUT THIS BLOG

SavingsPinay is a personal finance blog of a common Pinay. This blog promotes financial literacy for the young and young at heart by providing insights and tips on budgeting, saving, investing and online entrepreneurship. Set to be the #1 Personal Finance Blog in the Philippines, SavingsPinay guarantees quality posts every Monday, Wednesday, Friday and Saturday!